Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI)

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Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) is up 2.1% since the beginning of the year. GLDI is currently trading at $159 per share. Investors who bought $1,000 worth of GLDI shares 5 years ago would now be looking at an investment worth $1,696.

Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has returned 2.06% so far this year and 21.23% over the past 12 months. Over the last ten years, GLDI has returned 8.99% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Jan 29, 2013, GLDI's average daily return is +0.02%, while the average monthly return is +0.41%. At this rate, an investment would double in approximately 14.1 years.

Historically, 54% of months were positive and 46% were negative. The best month was Apr 2020 with a return of +8.3%, while the worst month was Jun 2013 at -10.7%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 8 months.

On a daily basis, GLDI closed higher 52% of trading days. The best single day was Sep 18, 2013 with a return of +3.4%, while the worst single day was Apr 15, 2013 at -8.5%.

Credit Suisse X-Links Gold Shares Covered Call ETN has an annualized alpha of 4.42%, beta of 0.06, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 30, 2013.

• This ETF captured 13.27% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.17%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.06 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

GLDI has an expense ratio of 0.65%, placing it in the medium range.

GLDI ranks 40 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

The table below present risk-adjusted performance metrics for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) and compare them to S&P 500 Index.

Credit Suisse X-Links Gold Shares Covered Call ETN provided a 22.37% dividend yield over the last twelve months, with an annual payout of $35.56 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Credit Suisse X-Links Gold Shares Covered Call ETN. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Credit Suisse X-Links Gold Shares Covered Call ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Credit Suisse X-Links Gold Shares Covered Call ETN was 32.26%, occurring on Dec 2, 2015. Recovery took 1151 trading sessions.

The current Credit Suisse X-Links Gold Shares Covered Call ETN drawdown is 7.37%.

The chart below shows the rolling one-month volatility.